IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
A RESOLUTION authorizing the County Executive to execute a Line Sale Agreement with Union Pacific for the acquisition of the Rock Island Rail Corridor.
Intro
RESOLUTION NO. 19022, December 1, 2015
INTRODUCED BY Dan Tarwater III, Crystal Williams, Frank White, Jr., Tony Miller,
Scott Burnett, Alfred Jordan, Dennis Waits, Greg Grounds, and
Theresa Galvin, County Legislators
Body
WHEREAS, the County Administration has been in discussions with Union Pacific Railroad Company to acquire a portion of Union Pacific right-of-way located in Jackson County known as the "Rock Island Rail Corridor," from MP 288.3 to MP 270.6; and,
WHEREAS, Union Pacific and the County executed a Memorandum of Understanding on November 12, 2013, for Union Pacific to sell and for the County to purchase the specified portion of the Rock Island Rail Corridor; and,
WHEREAS, the Kansas City Area Transportation Authority has approved a Cooperative Agreement with Jackson County providing that the Kansas City Area Transportation Authority will pay for 50% of the purchase price for the Rock Island Rail Corridor; and,
WHEREAS, the County administration has continued discussions with Union Pacific to acquire the Rock Island Rail Corridor, resulting in a Line Sale Agreement which will contain the following principal points:
1. Union Pacific will agree to sell 17.7 miles of the Rock Island Rail Corridor that is located in the cities of Kansas City, Raytown and Lee's Summit.
2. The County will acquire all railroad rights related to the Rock Island Rail Corridor.
3. The purchase price will be $50,117,208.00.
4. Upon execution, the County will place $250,000.00 into escrow to be used toward the purchase of the Rock Island Rail Corridor. If the transaction does not close, these funds will be returned to Jackson County.
5. The County an...
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